Löfbergs, the Sweden-based coffee supplier, has acquired the remaining shares in Danish peer Peter Larsen Kaffe.
The deal, struck for an undisclosed sum, sees Löfbergs take full control of a business in which it first invested in 2002.
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“Since our entry, Peter Larsen Kaffe has grown significantly, increasing its market share fivefold and becoming one of Denmark’s leading coffee brands,” a Löfbergs spokesperson said.
Claus Bertelsen, who has been Peter Larsen Kaffe’s CEO since 2004, is to step down in July.
“With Claus Bertelsen staying on as CEO until the end of July, we have time to find his successor. Together with our skilled and engaged Danish colleagues, we remain fully committed to strengthening our presence in Denmark,” the Löfbergs spokesperson added.
Löfbergs markets coffee under the Peter Larsen Kaffe brand in Denmark, selling into retail and horeca accounts. The spokesperson said its Danish operation accounts for around 15 % of our sales and has more than 60 staff.
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By GlobalData